As of January 31, 2014, Premier Service Bank was acquired by Independence Bank. Premier Service Bank provides various banking products and services to individuals, and small and middle-market businesses in California. The company offers kids savings accounts, basic and business savings accounts, money market accounts, retirement accounts, and certificates of deposit; and checking accounts comprising totally free, premier heritage, premier optima, money market, business, and non-profit community checking accounts. It also provides loans for construction and land development, commercial real estate, residential real estate, commercial and industrial, and consumer loans, as well as revolving an...
3637 Arlington Avenue
Riverside, CA 92506
Founded in 2001
Premier Service Bank Announces Unaudited Earnings Results for the Third Quarter Ended September 30, 2013
Nov 13 13
Premier Service Bank announced unaudited earnings results for the third quarter ended September 30, 2013. For the quarter, the company reported net loss of $212,000 or $0.18 per diluted share compared to net income of $161,000 or $0.12 per diluted share for the quarter ended September 30, 2012. The decrease in earnings between the respective periods is attributed to the decrease in the net interest income due to the decrease in the net loan portfolio. There was no additional provision to the allowance for loan losses required for the third quarter of 2013 and for the same period in 2012. Interest income (not taxable equivalent) was $1,139,000 compared to $1,622,000 for the same period a year ago. Net interest income was $1,039,000 compared to $1,437,000 for the same period a year ago. Net interest income after provision for loan losses was $1,039,000 compared to $1,437,000 for the same period a year ago. Loss before income taxes was $212,000 compared to income before income taxes of $161,000 for the same period a year ago. Book value as at September 30, 2013 was $5.19 compared to $5.01 per share as at September 30, 2012.